Common use of Financial Statements and Condition Clause in Contracts

Financial Statements and Condition. The Borrower’s audited consolidated financial statements as at December 31, 2007, and the Borrower’s unaudited quarterly financial statements as at March 31, 2008, as heretofore furnished to the Banks, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Borrower and the Subsidiaries as at such dates and the results of their operations for the fiscal year then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 2007, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

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Financial Statements and Condition. The Borrower’s Company's audited consolidated financial statements as at December 31, 20071995, and the Borrower’s its unaudited quarterly consolidated financial statements as at March 31, 20081996, as heretofore furnished to the BanksLenders, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Borrower Company and the its consolidated Subsidiaries as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the Borrower Company nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 20071995, no event has occurred which could have a Material Adverse Event has occurredEffect.

Appears in 1 contract

Samples: Credit Agreement (Olympic Financial LTD)

Financial Statements and Condition. The Borrower’s Borrowers’ audited consolidated financial statements as at December August 31, 2007, 2003 and the Borrower’s their unaudited quarterly financial statements as at March May 31, 20082004, as heretofore furnished to the BanksLenders, have been prepared in accordance with GAAP on a consistent basis (except for the absence of footnotes and subject to year-end audit adjustments as to the interim statements) and fairly present the financial condition of the Borrower and the Subsidiaries Borrowers as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the no Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31February 29, 20072004 and after giving effect to the Conversion, there has been no Material Adverse Event has occurredOccurrence.

Appears in 1 contract

Samples: Credit Agreement (Golden Oval Eggs LLC)

Financial Statements and Condition. The Borrower’s 's audited consolidated and consolidating financial statements as at June 30, 1997 and its unaudited consolidated and consolidating financial statements as at December 31, 2007, and the Borrower’s unaudited quarterly financial statements as at March 31, 20081997, as heretofore furnished to the BanksBank, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Borrower and the its Subsidiaries as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31June 30, 20071997, no Adverse Event has occurred.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Health Risk Management Inc /Mn/)

Financial Statements and Condition. The BorrowerParent’s audited consolidated financial statements as at of December 31, 2007, and the Borrower’s unaudited quarterly financial statements as at March 31September 30, 2008, as heretofore furnished to the Banks, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Parent, the Borrower and the Subsidiaries as at such dates and the results of their operations for the fiscal year then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 2007, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

Financial Statements and Condition. The Borrower’s 's audited consolidated financial statements as at December of January 31, 20071996, and the Borrower’s its unaudited quarterly consolidated financial statements as at March of July 31, 20081996, as heretofore furnished to the Banks, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Borrower and the its Subsidiaries as at of such dates and the results of their operations and their statement of cash flows for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December July 31, 20071996, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Merrill Corp)

Financial Statements and Condition. The Borrower’s Borrowers’ audited consolidated financial statements as at December August 31, 2007, 2005 and the Borrower’s their unaudited quarterly financial statements as at March 31June 30, 20082006, as heretofore furnished to the BanksLenders, have been prepared in accordance with GAAP on a consistent basis (except for the absence of footnotes and subject to year-end audit adjustments as to the interim statements) and fairly present the financial condition of the Borrower and the Subsidiaries Borrowers as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the no Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 2007, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Golden Oval Eggs LLC)

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Financial Statements and Condition. The Borrower’s 's audited consolidated financial statements as at December 31April 24, 2007, 1999 and the Borrower’s its unaudited quarterly consolidated financial statements as at March 31January 21, 20082000, as heretofore furnished to the Banks, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Borrower and the its Subsidiaries as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31April 24, 20071999, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Patterson Dental Co)

Financial Statements and Condition. The Original Borrower’s 's audited consolidated financial statements as at March 31, 1995, and its unaudited consolidated financial statements as at December 31, 2007, and the Borrower’s unaudited quarterly financial statements as at March 31, 20081995, as heretofore furnished to the BanksLender, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Original Borrower and the its consolidated Subsidiaries as at such dates and the results of their operations and changes in financial position for the fiscal year respective periods then ended. As of the dates of such consolidated financial statements, neither the Original Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 20071995, no there has not been any Material Adverse Event has occurredOccurrence.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Resources Inc\mn)

Financial Statements and Condition. The BorrowerParent’s audited consolidated financial statements as at of December 31, 20072006, and the Borrower’s unaudited quarterly financial statements as at March 31June 30, 20082007, as heretofore furnished to the Banks, have been prepared in accordance with GAAP on a consistent basis and fairly present the financial condition of the Parent, the Borrower and the Subsidiaries as at such dates and the results of their operations for the fiscal year then ended. As of the dates of such consolidated financial statements, neither the Borrower nor any Material Subsidiary had any material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such consolidated financial statements or in the notes thereto. Since December 31, 20072006, no Adverse Event has occurred.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

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